MortgageFraudBlog Conference - Day 2 bonus tracks
By Gene Wunderlich, Realtor & Legislative Liaison
(1st Action Real Estate)
11-7 fraud part 3 Last blog I started a list of fraud schemes covered in Rachel Dollar's MortgageFraudBlog Conference held in Miami. We started the list with The Classic, The Straw Buyer, Air Loans and Double Sales. Here's a few more: Affinity Fraud - where the perpetrator looks to specific groups for victims. They will recruit ringleaders who have contacts at a church group, within ethnic groups, senior groups and professional groups like nurses or teachers. By virtue of the fact that they are already part of that group, they are more readily accepted and after making sure the first couple victims are treated like royalty - the rest fall like dominoes. Soliciting Investors - you've seen the signs by the side of the highway - 'We Buy Houses for Cash', 'Investors Needed' that sort of th...
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